I've started on making a small business again. This time, me and my family manage on selling school supplies.
This is our new business that we are having now. Before, we had business and guess what? It got bankrupt or it didn't boom because not all of the customers are not interested with our business.
It was a small store business where we bought products online like candies, etc etc. and it was mainly a food store. Although, there were some profits but the expenses had got us and it led down to a bankruptcy.
I think the one that got us down on that business was that, there were more expenses than profits. Even though, we can see that there were people or customers that bought the snacks from our little business but on the other side note, more and more expenses that we couldn't predict and aside from that, not all of the items were fast selling, and only handful or few items that were selling fast. There were some that are not selling even 1 piece because they are not familiar with the food. That's what it lead to bankruptcy.
Now, me and my family started again with this new kind business and that is school supplies since my wife's family house is located beside a school. It is a perfect spot to sell these school supplies since there were lots of students that will go to school and every day, they will use school supplies and the most common were the ballpoint pens and these pencils.
This is another new business that I think that is best since it cannot expire unlike the food products. Also, it can lasts longer that it should be until it will be bought.
I get the idea from one of my employees here in the company. I was thinking on what kind of business do I think is best and asked them about the best and ideal to start a small business.
I know that this will be a hard because we will start fresh again with this business but I am still positive with this outcome. Although, I am positive with the outcome but it depends on how we can handle this business.
I think of many times for this school supplies business. I really doubt for this one to be happen because there were many stores that sells like this, but another thing that makes me do it was the selling price of these school supplies which made me invest in this kind of business.
Why did I knew the selling price for these school supplies? Simple, I browse in the online shopping on my phone which gives me confidence about this business. There were a couple of products that are very cheap and can sell at a high price just like pens.
I think we need to canvass the pricing of these products before investing. We need to know first the prices of these products, and compare these products to the other store that sells for this kind of product is a good way to give a competitive price.
